Brown Bag Seminar
Brown Bag Seminar Financial Markets Department The seminar series "Brown Bag Seminar" was offered on a regular basis by members of the Financial Markets department and their…
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Stock of fixed assets
Stock of fixed assets Gross fixed capital formation Gross fixed capital formation includes the purchase of permanent and reproducible fixed assets as well as created fixed assets…
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Branches of economy
Branches of economy Gross domestic product, gross value added Gross domestic product (GDP) includes the value of all goods and services produced in an economic area during a…
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Gross domestic product
Gross domestic product Gross domestic product (GDP) includes the value of all goods and services produced in an economic area during a specific period of time. It is defined as an…
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Import Competition and Firm Productivity: Evidence from German Manufacturing
Richard Bräuer, Matthias Mertens, Viktor Slavtchev
World Economy,
No. 8,
2023
Abstract
Abstract We study how different types of import competition affect firm productivity using firm-product data from German manufacturing (2000-2014). Competition from high-income countries causes affected domestic firms to increase their productivity and lower their prices. Oppositely, import competition from low-wage countries does not lead to firm productivity gains. Instead, domestic firms' sales and input usage decline. Our findings confirm the intuition of ladder models that the effect of competition depends on the "closeness" of competitors. They are in line with widespread X-inefficiencies throughout the economy, which firms reduce in response to competition from high-income countries.
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Uncovering Disaggregated Oil Market Dynamics: A Full-Information Approach to Granular Instrumental Variables
Christiane Baumeister, James D. Hamilton
Working Paper,
2023
Abstract
The world price of oil is determined by the interactions of multiple producers and consumers who face different constraints and shocks. We show how this feature of the oil market can be used to estimate local and global elasticities of supply and demand and provide a rich set of testable restrictions. We develop a novel approach to estimation based on full-information maximum likelihood that generalizes the insights from granular instrumental variables. We conclude that the supply responses of Saudi Arabia and adjustments of inventories have historically played a key role in stabilizing the price of oil. We illustrate how our structural model can be used to analyze how individual producers and consumers would dynamically adapt to a geopolitical event such as a major disruption in the supply of oil from Russia.
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Konjunktur aktuell: Belebung in Dienstleistungsbranchen, aber zunächst weiter schwache Industriekonjunktur
Konjunktur aktuell,
No. 2,
2023
Abstract
Im Sommer 2023 deuten Stimmungsindikatoren auf einen weltweiten Aufschwung in den Dienstleistungsbranchen, die Konjunktur im Verarbeitenden Gewerbe bleibt aber schwach. Hohe Inflation und gestiegene Leitzinsen dämpfen die Konjunktur in den meisten Weltregionen. In Europa belasten auch im langjährigen Vergleich hohe Energiepreise. Insgesamt bleibt die Dynamik der Weltwirtschaft im Jahr 2023 verhalten. Die deutsche Wirtschaft wird in mäßigem Tempo expandieren, denn mit sinkender Inflation und erhöhter Lohndynamik wird der private Konsum wieder zulegen. Das Bruttoinlandsprodukt dürfte 2023 um 0,3% zurückgehen, für das kommende Jahr ist ein Zuwachs von 1,7% prognostiziert. Für 2023 ist mit einer Inflationsrate von 6,1% und für 2024 mit 2,7% zu rechnen.
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Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one of the four research departments (Financial Markets – Laws, Regulations and Factor Markets –…
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Facility Management
Facility Management and Emergency Assistance First-aiders and Fire Prevention Aides ( Joachim Spens ) Behavior in Case of Fire ( Joachim Spens ) Escape Plan ( Joachim Spens ) List…
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Rental Prices IWH Rooms
Rental Prices IWH Rooms Rental Prices for IWH Rooms (german, pdf) What External Employees have to pay, if they want to use the conference room, the seminar rooms or the guest…
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